This film might have been the final blow to K-MART
Posted on 06/07/2023 7:12:25 AM PDT by SeekAndFind
Could Target's woke executives finally be made to pay attention?
They might, given that they've been issued legal demands from a shareholder to produce all documents related to its woke transgender agenda.
According to America First Legal, a group that is led by Stephen Miller, a former member of the Trump White House:
WASHINGTON, D.C. – Today, America First Legal (AFL), on behalf of its client, the National Center for Public Policy Research (NCPPR), served the Target Corporation with a formal demand for the production of corporate books and records, seeking transparency regarding its management’s radical LGBT political agenda that has apparently cost the corporation over $12 billion in market valuation since mid-May 2023. NCPPR is a Target shareholder.
Target’s 2022 annual report acknowledges that the corporation’s core customer base is made up of “families.” It further recognizes the serious risk to Target’s company’s financial prospects if that core customer base sours on the corporation: “Our continued success is dependent on positive perceptions of Target which, if eroded, could adversely affect our business and our relationships with our guests and team members.”
Nevertheless, the evidence is that Target’s management has recklessly bent the knee to the radical left. Serving “stakeholders,” not shareholders,
(Excerpt) Read more at americanthinker.com ...
I multi-tasking this morning so I am misreading a lot of stuff.
CORRECT.
The article just says a shareholder has filed a request for records. I’m not a lawyer so not sure if that’s a prelude for a suit or not. I expect the Board to stonewall, of course, unless this is a MAJOR investor.
More; FR posted article on Target=supported anti-American group.
https://freerepublic.com/focus/f-news/4158486/posts
And I just want to clarify, when I says “they are suing the board” I was talking about the hypothetical of what a shareholder suit against a corporation is, not in this specific case. As far as I know there is no lawsuit, that’s just Freeper cheerleading at the moment. gooooo team! :-)
Dump Target Stock ASAP.
Target = Kmart
Woke/Broke.
Yummylicious
Yes and now Target is a member of the club.
Yup, this whole trans-groomer-homo retail promotion thing is now a Governance - Boardroom issue, and soon a criminal mismanagement, resource-wasting activist shareholder Courtroom issue.
Get woke, Go broke.
It may be about the bottom line, but these hired and well payed execs have fiduciary responsibility to share holders. Its about time they were held to account. Woke is broke, and irresponsible use of shareholder investments.
K-Mart soldiered on for more than three decades after that movie, so no.
I tend to doubt any such lawsuit will go anywhere, because the outcome was not predictable. There was wasn’t any sort of negligence or wrongdoing, at least as far as I can see.
that’s not how corporate lawsuits are done.
Please elaborate. How would such a suit be done in your opinion?
It’s a corporation - this does not qualify as conduct allowing lawsuits to pierce the corporate liability shield. You can’t sue the officers specifically as this doesn’t come under the magic categories of “embezzelment” or “gross fiduciary misconduct.”
But the shareholders can sue the board and, depending on state law, possibly sue the officers as a group.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.